JSPL Share Price: Shares of Jindal Steel and Power Limited (Jindal Steel & Power Ltd. (JSPL) saw a fall of 13% on Friday, January 31. The company announced the results of the December quarter after the market shutdown on Thursday. It was ₹ 10,668 on a ton of standalon, on the CNBC-TV18 Polls, on the other parameters, the revenue of the JSPL was flat since last year. 600 basis points decreased.
Let us know that the company is preparing to increase its capacity from 9.6 MT to 15.9 MT. For which she is spending capital expenses between the financial year 2026 and 2028. During this phase, the total capital expenditure was Rs 23,400 crore.
The reason for the decline in stock
Today, due to the decline in stock, it appears that this capital expenditure scheme has worried the market as the company’s net deficit also increased to Rs 13,551 crore during the December quarter. Which was Rs 12,464 crore in the last quarter and Rs 11,203 crore in the end of the financial year 2024.
Brokerage opinion
On this stock, Morgan Stanley has rated “overweight” with a price target of Rs 1,200. But he said that the news of additional capital expenditure scheme has surprised him.
At the same time, City has given a “cell” rating on stock with a price target of Rs 765 on the stock.
City wrote in its note, “Investors will be concerned about newly declared capital expenses without any analog capacity increase.”
Of the 28 analysts who covers JSPL, 20 have rated “shopping” on stock. While four analysts have rated “hold” and “cell”.
JSPL shares were seen trading 13% at Rs 724.1 during 9:28 am. The stock now appeared 35% below its highest level of Rs 1,056.
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